Metazoa—a California-based software company that has developed an org and release management solution for Salesforce—plans to use a $2 million investment from TIMIA Capital to fuel sales, marketing, and customer success activities.
Their ultimate goal is to achieve 100 percent revenue growth in FY20. The TIMIA Team caught up with Jennifer Mercer, CEO at Metazoa, to find out more.
Investing in Sales, Marketing, and Customer Success
“We intend to use this investment to building out our inbound and outbound sales and customer success teams,” said Jennifer. “The total addressable market for our org and release management solution is significant. We intend to chip away at that opportunity while also focusing on the enormous expansion opportunities that exist within our current Enterprise customer base.”
Mercer had previous fundraising experience at a former company, DreamFactory, where she raised US$23 million in venture capital.
An Alternative to Venture Capital
“Having previous fundraising experience, I was looking for an alternative to traditional venture funding and actively meeting with investors at the SaaStr conference,” said Jennifer. “I wanted to keep all the equity in the company, if possible. Someone suggested I look into revenue and debt-based financing and I came across TIMIA. I’m very happy that this is the direction we’ve chosen.”
Today, Metazoa is used by 62 percent of Salesforce’s Fortune 500 customers. With its current ARR and growth potential, Metazoa is the perfect portfolio company for TIMIA.
“Metazoa has an impressive list of metrics,” said Greg Smith, CIO at TIMIA. “Their low customer churn, high growth, and strong Salesforce relationship were all key indicators of a strong product-market fit. We look forward to seeing them take off and we’re proud to be their investment partner of choice.”
Strong Salesforce Partnership is a Clear Advantage
Metazoa was recently selected to participate in Salesforce Accelerate—a virtual program designed to provide the insights, learning, and support that companies need to strategically align with Salesforce and accelerate their success with AppExchange.
“As part of Accelerate, we have a unique opportunity to collaborate with some of the best talent Salesforce has to offer in order to alleviate some major pain points for enterprises around corporate governance, regulatory compliance, complex org management and security concerns related to user permissions and data,” said Jennifer. “We help customers reduce the cost of org ownership by 38 percent and support faster release cycles, increasing developer productivity.”
Participation in the program includes access to business and technical resources, in-person strategy sessions, and go-to-market guidance.
“We are happy to welcome Metazoa into the Salesforce Accelerate program,” said Woodson Martin, Executive Vice President and General Manager of Salesforce AppExchange. “The partners selected to join this program already stand out as innovators. We are excited to watch Metazoa accelerate their success as they continue to leverage the salesforce platform to provide an in-demand organization and release management solution.”
Watch Mike Walkinshaw, CEO of TIMIA, discuss the Metazoa Transaction through a Proactive Investors interview with Steve Darling.
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